The Latest Breaking News from Janet Yellen

Heads of state, finance leaders and activists are converging in Paris to seek ways to overhaul the International Monetary Fund and World Bank and usher the global development banks into a post-pandemic world with a rapidly changing climate

Last month, the Department of Commerce released troubling data on the anemic economy, showing that gross domestic income (GDI) shrank in the previous six months. That’s no surprise to half of Americans who believe we’re currently in a recession, but the data refute President Joe Biden’s claim that the economy…

Exporters are nervously watching a key vote in the US Congress that will determine whether the world's biggest economy defaults on its debts. Jonathan Milne reports.

It’s not just another case of political bickering, as money Americans get from a wide range of programs is at stake.

Bipartisan deal to raise debt ceiling and avoid ‘disastrous’ default heads to US Congress after weeks-long impasse.

Lawmakers are scrambling to push through Biden-McCarthy deal by 5 June to avoid default disaster – what is the process?

President Joe Biden and House Speaker Kevin McCarthy on May 27, 2023, agreed in principle to a tentative deal that would raise the debt ceiling while capping some federal spending at current levels.

President Joe Biden and House Speaker Kevin McCarthy have reached an “agreement in principle” to resolve the looming debt crisis

With the outlines of a deal in place, the legislative package could be drafted and shared with lawmakers in time for votes early next week in the House and later in the Senate.